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CREE RESEARCH ANNOUNCES NONVOLATILE MEMORY CONTRACT AWARD

 DURHAM, N.C., April 29 /PRNewswire/ -- Cree Research, Inc. (NASDAQ: CREE) announced today the start of a planned three-year $4.2 million project to fund the development of silicon carbide-based nonvolatile random-access memory devices (NVRAMs). The first year contract award is $1.64 million. The project is funded by the Strategic Defense Initiative Organization (SDIO) and monitored by the Office of Naval Research (ONR).
 The device to be developed would be the first non-battery-backed semiconductor memory chip capable of both retaining data for extended periods of time after power is turned off, and of being written to at high speeds during system operation for an unlimited number of cycles. SiC-based NVRAMs are expected to have "write" speeds many times faster than silicon-based nonvolatile memory devices. Current memory technologies do not have these combined capabilities.
 Defense applications include electronic circuits in satellites where power consumption is a major concern. Long term, there are potential consumer applications, including portable electronic products where device power consumption and speed are important.
 Last year, under SDIO/ONR sponsorship, scientists at Cree and Purdue University successfully demonstrated the feasibility of the technology with a silicon carbide (SiC) capacitor, which is a building block toward the development of SiC-based NVRAMs. This demonstration led to the nonvolatile memory contract award this year. Cree is again partnering with Purdue on this effort, with Purdue as a subcontractor. The Microelectronics Center of North Carolina will also be a subcontractor in this development effort.
 Cree's nonvolatile memory contract win is a prime example of defense conversion, since it utilizes Defense Department funds to develop dual-use technology. "This project exemplifies the Clinton administration's strategy to push technology with both commercial and military applications," said SDIO's Director of Innovative Science & Technology Dwight Duston. "We're very excited about Cree's work!"
 Cree Research, which recently completed an initial public offering of common stock, is the world leader in developing and manufacturing electronic devices made from silicon carbide, a semiconductor material that is superior to other semiconductor materials for certain applications.
 -0- 4/29/93
 /CONTACT: Dr. John Palmour, Senior Scientist, Cree Research, 919-361-5709 or FAX 919-361-4630/
 (CREE)


CO: Cree Research, Inc. ST: North Carolina IN: CPR SU:

CM -- CH010 -- 2766 04/29/93 14:46 EDT
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Date:Apr 29, 1993
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